Divorce is often accompanied by emotional and financial turmoil, with disputes over debt being a common source of contention between spouses. However, in certain situations, filing for bankruptcy can alleviate the burden of debt-related conflicts and make the divorce process less contested and easier. This article explores how bankruptcy can simplify divorce cases by removing the need to fight over debt. 1. Debt Discharge: Filing for bankruptcy allows individuals to discharge or eliminate certain types of debt, depending on the bankruptcy chapter chosen (such as Chapter 7 or Chapter 13). Discharging debts can significantly impact a divorce case by eliminating… read more »
Larry Young: Bankruptcy
Article by: Larry Young, Esquire Title 11 of the United States Code is the Bankruptcy Code, enacted pursuant to Congress’s constitutional authority to make a uniform law respecting bankruptcy. Most people understand that the overall concept of bankruptcy is to get a discharge from debts and to get what the Bankruptcy Code refers to as a “fresh start.” Most people are also aware of what is normally dischargeable: credit cards, utility bills and medical bills, as well as mortgage and car loan deficiencies. Most people however, are unaware of the limitations that exist on the ability to obtain a discharge…. read more »
